South Korean gadget giant Samsung is reportedly looking at how they can incorporate simple payment functions to the next wearable devices – smartwatches, more specifically. The target is the Mobile World Congress slated for early in 2015, where by that time, Samsung is expected to launch a payments-enabled smartwatch.
Samsung is reportedly teaming up with a natural partner in mobile and online payment systems, Paypal. The idea is to have a biometric sensor on your smartwatch so that your identity can be verified. This is purportedly set to be implemented on Samsung’s third-generation smartwatch, with the Samsung Gear S launching at IFA 2014 recently.
Another player in this movement will probably be Synaptics, which will obviously handle the biometrics solution for the smartwatch. Richard Bergman, CEO of Synaptics, has been quoted as saying that they are indeed working with Samsung and Paypal in creating an “area type” payment system which is more viable for smartwatches. The idea is that the payment system can work within a limited range of the smartwatch in question.
This idea needs to be fleshed out a bit more, of course, and we will be happy to bring you any developments in the next few months with regards to this project. We have to remember that we could also be seeing this new feature in a round-face watch from Samsung, obviously riding on the popularity of the Moto 360.